On January 1, 2014, Cambridge Realty sold land for $2,000 that had originally cost $1,600. A 5% down payment was received. Further cash collections were as follows:
Required:
Compute the amount of realized profit for the year indicated under each method shown below:

Question

On January 1, 2014, Cambridge Realty sold land for $2,000 that had originally cost $1,600. A 5% down payment was received. Further cash collections were as follows:  
Required: 
Compute the amount of realized profit for the year indicated under each method shown below:

Quizplus · Accepted Answer

The Answer of On January 1, 2014, Cambridge Realty sold land for $2,000 that had originally cost $1,600. A 5% down payment was received. Further cash collections were as follows:  
Required: 
Compute the amount of realized profit for the year indicated under each method shown below:

On January 1, 2014, Cambridge Realty Sold Land for $2,000